🎣 Target, Walmart, & Costco

TGIF. We take a look at retailer earnings and outlooks from Target, Walmart, and Costco in today's feature story.

Plus:

• 🚔 G-Face "King of Double Brokers" Update
• 💪 The 91-Year-Old Truck Driver
• 🚨 Trump Delays Tariffs
• & More...

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🐔 WHAT’S COOKIN’ IN FREIGHT

💪 91-Year-Old Truck Driver Still Going Strong. Luther Binford, a truck driver for Mesilla Valley Transportation (MVT), celebrates his 91st birthday today—still running 600-700 miles per day. He’s driven through all 48 continental U.S. states and much of Canada, possibly making him the world’s oldest active trucker. In 2024, Guinness World Records recognized 90-year-old Doyle Archer as the oldest; however, Binford may now hold the title. FreightCaviar’s Founder, Paul, was in El Paso, TX, at the MVT terminal yesterday to celebrate and interview him. When asked for his best advice to younger drivers, Binford said: “Don’t be in such a hurry. You’ll get there when you’re supposed to. Everybody seems to be in a rush these days, but they ain't going no place—talking loud, saying nothing. So slow down. Take life one step at a time.” Our full interview drops next week.

🚔 What’s New With G-Face? The infamous TikTok double broker and government informant, G-Face (real name: Yuri Khatchikyan), has reportedly been in custody since May 2024. The Armenian-American from Los Angeles gained notoriety for posting controversial—and, to many in the logistics industry, hilarious—videos about starting trucking companies and double brokering. In a 2023 video reply to Lombard Trucking, he openly admitted: “Hell yeah, I double broker!” Now, court records show Khatchikyan was arraigned on April 11, 2024, on charges of Conspiracy to Commit Wire Fraud and Engaging in a Monetary Transaction in Property Derived from Unlawful Activity. The charges stem from fraudulent SBA and PPP loans totaling $310,000. Prosecutors called him a flight risk and a danger to the community, leading the judge to deny his bond.

🚨 Trump Delays Tariffs on Mexico and Canada. President Donald Trump granted both Mexico and Canada a one-month exemption from the newly imposed 25% tariffs on imports, citing cooperation on border security and trade discussions. The reprieve, lasting until April 2, applies to goods that meet USMCA rules, such as vehicles made with at least 75% North American components. The decision follows talks with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau where he praised the Mexican President, even thanking him for his “hard work and cooperation.” Whereas the latter is being accused of using the tariffs problem as a way to strengthen his bid for re-election for Prime Minster. So for now, the seesaw battle between to tariff or not to tariff continues.

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Retailers Brace for a Tough 2025

Big-box retailers just wrapped up Q4 earnings, and the outlook is cautious.

While Walmart, Target, and Costco saw mixed results, one theme dominated: tariffs, inflation, and shifting consumer behavior are squeezing margins.

Target

Trump’s Mexico tariffs could raise produce prices in the next few days, Target CEO says

President Donald Trump’s tariffs on Mexico could raise prices on strawberries, avocados and bananas, Target CEO Brian Cornell said.

CNBCGabrielle Fonrouge,Jacob Pramuk

Target wrapped up Q4 2024 with 1.5% comparable sales growth, fueled by strong digital performance and holiday promotions.

• However, the retailer faces first-quarter softness, citing tariffs and weak consumer confidence as major concerns.
• The anticipated 25% tariff on Mexican imports (now paused until April) are expected to drive up prices on fresh produce like avocados and strawberries.
• The company forecasts flat comparable sales for 2025 and has stopped issuing quarterly guidance due to economic volatility.

Walmart

Walmart wrapped up Q4 2024 with solid growth, but cracks are forming as tariffs and Amazon’s rapid rise upend the retail landscape.

• Walmart is pressuring Chinese suppliers to cut prices to offset Trump’s 20% tariff hike on China and 25% on Mexico/Canada—but higher prices for consumers could still be coming.
• For the first time, Amazon’s quarterly revenue surpassed Walmart’s, though Walmart still leads annually.
• Walmart expects net sales to rise just 3-4% this year, missing investor expectations.

Walmart remains a retail giant, but global trade shifts and Amazon’s growth are rewriting the playbook.

Costco

Costco’s Profit Miss Reflects Broader Retail Concerns - TT

Costco slipped in late trading after the big-box retailer posted profit that missed Wall Street’s expectations. Retailers have taken a more cautious outlook in recent weeks.

Transport TopicsJonathan Roeder and Jaewon Kang

Costco delivered revenue growth ($63.7 billion, beating estimates of $63.1B) but fell short on profits.

• The retailer is watching pricing impacts as import costs rise.
• Costco isn’t slowing down, with plans to open 12 new U.S. locations in the next six months.

CEO Ron Vachris: “We have big plans for the rest of the fiscal year.”

Meanwhile, Walgreens Goes Private

Walgreens Going Private in $10 Billion Sycamore Deal - TT

The offer, a roughly 8% premium to Walgreens’ closing price March 6 in New York, will turn one of the oldest, most recognizable U.S. drugstore chains into a private company.

Transport TopicsIke Swetlitz

Walgreens is saying goodbye to Wall Street. The drugstore giant is going private after inking a $10 billion buyout deal with Sycamore Partners.

Walgreens will stay headquartered in Chicago and continue its turnaround efforts privately, but questions remain on how it will compete with CVS, Amazon, and big-box rivals.

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Freight fraud is evolving—are you keeping up? At the 3PL Summit, Highway’s Chief Commercial Officer, Michael Caney, joined industry leaders to break down the growing risks of double brokering, identity spoofing, and fraud in carrier onboarding.

In this session, Michael shared key strategies for brokers to strengthen their networks, leverage technology for real-time carrier verification, and prevent fraud before it impacts their bottom line.

🌎 AROUND THE FREIGHT WEB

🚛 Blizzard Causes Problems. A truck flipped near Garden City, Kansas, as 80+ MPH winds and blizzard conditions caused road closures and power outages across the Midwest.

📦 CMA CGM's $20B U.S. Investment. The French shipping giant plans to triple its U.S.-flagged fleet, upgrade ports, and create a Chicago airfreight hub as part of a $20 billion commitment.

👨‍💻 AI-Powered Freight Game. Stephen Ruhe just launched Freight Frenzy, the first AI-built game for freight professionals.

🇨🇦 BC to Tax U.S. Trucks. British Columbia plans to tax U.S. trucks heading to Alaska in response to Trump's tariffs.

💪 A. Duie Pyle Expansion. Regional LTL carrier A. Duie Pyle is growing its Midwest presence with a new service center in Toledo, Ohio, to meet increasing demand. There are plans to potentially expand to “Cincinnati as well.”

🏛 Truck Stop Killer & DUI Trucker Sentenced. Bruce Mendenhall gets 65 years for a 2007 murder, while Lincoln Smith receives 48 years for a deadly drug-fueled crash.

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FREIGHT HUMOR

Funny Freight Friday: Better Not Catch Him Stalling on The Road.

Funny Freight Friday: We wouldn’t want a five-year delay.

FreightCaviarKaja Kusińska